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27 Aug 2026, 13:54

The price of Brent crude oil continued its downward trend, reaching $86.75 on Thursday, following improvements in shipping traffic through the Strait of Hormuz and expectations of positive negotiations between Iran and Qatar.

The price of oil has dropped by more than a dollar compared to Wednesday and about eight dollars compared to last week.

Following the recent visit of the Omani Foreign Minister and the Commander of the Pakistani Army to Tehran, Ismail Baqaei, spokesperson for the Iranian Foreign Ministry, announced on Wednesday that the Prime Minister of Qatar is also expected to visit Tehran soon.

At the same time, the Qatari Foreign Minister emphasized in a call with his Iranian counterpart the support of Doha for all diplomatic efforts and actions aimed at achieving a solution to ensure freedom of navigation and laying the groundwork for a comprehensive agreement to establish lasting peace in the region.
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